Core Viewpoint - Investors are encouraged to consider Enterprise Financial Services (EFSC) due to improving earnings estimates and positive stock momentum [1][7] Estimate Revisions - There is a rising trend in earnings estimate revisions driven by analyst optimism, which is expected to positively impact the stock price [2] - The earnings estimate for the current quarter is $1.14 per share, reflecting a +6.54% change from the previous year, with a recent increase of 8.68% in consensus estimates over the last 30 days [4] - For the full year, the expected earnings are $4.84 per share, showing a -0.82% change from the prior year, but consensus estimates have risen by 6.03% due to three upward revisions [5] Zacks Rank - Enterprise Financial Services holds a Zacks Rank 1 (Strong Buy), indicating strong agreement among analysts in raising earnings estimates, which historically correlates with stock outperformance [3][6] - Stocks with Zacks Rank 1 and 2 have shown significant outperformance compared to the S&P 500 [6] Stock Performance - The stock has gained 8.4% over the past four weeks, reflecting investor confidence in its earnings growth prospects [7]

Core Viewpoint - Enterprise Financial Services (EFSC) has been upgraded to a Zacks Rank 1 (Strong Buy), indicating a positive trend in earnings estimates which is a significant factor influencing stock prices [1][4]. Earnings Estimates and Ratings - The Zacks rating system is based solely on a company's changing earnings picture, tracking the Zacks Consensus Estimate for EPS from sell-side analysts [2]. - The Zacks rating upgrade for EFSC reflects an improvement in the company's earnings outlook, which is expected to positively impact its stock price [4][6]. Impact of Earnings Estimate Revisions - There is a strong correlation between changes in earnings estimates and near-term stock price movements, making the Zacks rating system valuable for investors [3][7]. - Rising earnings estimates for EFSC indicate an improvement in the company's underlying business, which should lead to higher stock prices as investors recognize this trend [6]. Zacks Rank System Performance - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [8]. - The upgrade of EFSC to Zacks Rank 1 places it in the top 5% of Zacks-covered stocks, suggesting potential for market-beating returns in the near term [11]. Earnings Estimate Data for EFSC - EFSC is projected to earn $4.84 per share for the fiscal year ending December 2025, reflecting a year-over-year change of -0.8%. However, the Zacks Consensus Estimate has increased by 6.6% over the past three months [9].

Core Insights - Three stocks are highlighted with strong momentum characteristics and a buy rank, including Moelis & Company, Society Pass Incorporated, and Enterprise Financial Services Corp [1][2][3] Company Summaries - **Moelis & Company (MC)**: - Zacks Rank 1 - Current year earnings estimate increased by 8.3% over the last 60 days - Shares gained 17.2% over the last three months, outperforming the S&P 500's 6.0% increase - Momentum Score of A [1] - **Society Pass Incorporated (SOPA)**: - Zacks Rank 1 - Current year earnings estimate increased by 6.7% over the last 60 days - Shares gained 9.6% over the last month, compared to the S&P 500's 3.3% increase - Momentum Score of B [2] - **Enterprise Financial Services Corp (EFSC)**: - Zacks Rank 1 - Current year earnings estimate increased by 7.5% over the last 60 days - Shares gained 14.6% over the last three months, outperforming the S&P 500's 6.0% increase - Momentum Score of A [3]

Financial Data and Key Metrics Changes - The company reported earnings of $1.28 per diluted share for Q4 2024, a decrease from $1.32 in the linked quarter but an increase from $1.16 in Q4 2023 [5] - Adjusted return on assets was 1.31% and pre-provision return on assets was 1.80%, with net interest margin remaining above 4% [6][8] - The tangible common equity to tangible assets ratio was 9.05% at quarter-end, with an adjusted return on tangible common equity of 14.05% for Q4 [16] Business Line Data and Key Metrics Changes - Overall loan growth was around 3% for the year, with Q4 growth of $140 million or 5% annualized, driven by increases in general C&I, construction, and life insurance premium finance segments [28][30] - Life insurance premium finance grew $158 million or 16.5% for the year, while SBA loans increased by $25 million or 7.9% annualized in Q4 [30][31] - The sponsor finance business experienced a net reduction in the loan portfolio of roughly 10% due to slowed originations [32] Market Data and Key Metrics Changes - The Midwest region grew modestly to $3.2 billion in Q4, while the Southwestern markets saw strong growth of $104 million in Q4 and $218 million for the full year, a 13.9% increase [33][35] - California's loan balances slipped $85 million during the quarter, attributed to timing on larger line paydowns [36] - Deposits increased by $681 million in Q4 and $970 million or 8% year-over-year, primarily from core client deposits [37][38] Company Strategy and Development Direction - The company focuses on diversification across various markets and business lines, avoiding reliance on any single market for success [9] - The strategy includes a client-centric approach, emphasizing holistic solutions and relationship management [10] - The company plans to leverage market disruptions and continue talent acquisition to enhance growth and profitability [22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving mid to high-single-digit balance sheet growth in 2025, supported by strong deposit growth and a quality deposit base [14][25] - The overall economic outlook for clients is positive, with expectations for sound C&I growth in 2025 [24][25] - Management remains cautious about loan demand but anticipates slight increases without compromising credit and pricing disciplines [12][21] Other Important Information - The company increased its dividend by $0.01 per share for Q1 2025 to $0.29 per share and repurchased $11 million in common stock during the quarter [17][68] - Non-performing loans to total loans and non-performing assets to total assets showed slight increases but remained at modest levels [18][61] Q&A Session Summary Question: Margin outlook and impact of rate cuts - Management indicated that the expectation for net interest margin around 4% includes a reset of the SBA portfolio and does not account for further rate cuts [75][79] Question: Non-interest-bearing deposits sustainability - Management noted that the increase in non-interest-bearing deposits is typically seasonal and may decrease in Q1, but they remain confident in the ability to grow deposits [89][90] Question: Credit quality and monitoring of specific loans - Management confirmed that credit quality remains strong, with net charge-offs at 16 basis points and non-performing assets at 30 basis points, indicating no significant early warning signs [92][93] Question: Loan growth outlook - Management expressed confidence in achieving mid-single-digit loan growth, supported by market opportunities and a selective approach to lending [100][101] Question: Capital management and regulatory ratios - Management targets CET1, Tier 1, and total capital ratios of 10%, 12%, and 14% respectively, and is currently managing capital levels prudently [110][112]

Financial Data and Key Metrics Changes - The company reported earnings of $1.28 per diluted share for Q4 2024, compared to $1.32 in the previous quarter and $1.16 in Q4 2023 [4] - Adjusted return on assets was 1.31% and pre-provision return on assets was 1.80% [4] - Net interest income expanded while net interest margin remained flat above 4% [5][6] - The tangible common equity to tangible assets ratio was 9.05% at quarter-end, with an adjusted return on tangible common equity of 14.05% for Q4 [11][12] Business Line Data and Key Metrics Changes - Overall loan growth was around 3% for the year, with Q4 growth of $140 million or 5% annualized [18] - Life insurance premium finance grew by $158 million or 16.5% for the year, showing consistent growth [19] - The SBA segment posted a strong quarter with a growth of $25 million or 7.9% annualized [20] - The agricultural portfolio declined by $27 million as it continues to wind down [8] Market Data and Key Metrics Changes - Client deposits increased by $677 million in Q4, marking the fifth quarter of growth in six [9] - The cost of deposits declined to 2%, with DDA to total deposits increasing to over 34% [10] - The Midwest region saw modest growth, while the Southwestern markets experienced strong growth of $104 million in Q4 [21][22] Company Strategy and Development Direction - The company focuses on diversification, aiming for revenue growth from various markets and business lines [6] - The strategy emphasizes a client-centric approach, providing holistic solutions to clients [7] - The company plans to continue leveraging market disruptions and talent acquisitions to enhance growth and profitability [15][17] Management's Comments on Operating Environment and Future Outlook - Management noted a shift in client sentiment post-presidential election, with expectations for slight increases in loan demand [7][16] - The company anticipates sound growth in C and I sectors in 2025, supported by client investments in infrastructure and reshoring [16] - Management expressed confidence in maintaining a mid to high single-digit growth rate for the balance sheet in 2025 [10][18] Other Important Information - The company increased its dividend by $0.01 per share for Q1 2025 to $0.29 per share [12] - The allowance for credit losses was 1.34% of unguaranteed total loans, reflecting strong credit quality [12][40] - Non-performing assets increased slightly but remained at modest levels [12][39] Q&A Session Summary Question: Margin outlook and impact of rate cuts - Management indicated that the margin could hold above 4% even with potential rate cuts, depending on the shape of the yield curve and deposit cost management [49][52] Question: Non-interest bearing deposits sustainability - Management noted that the increase in non-interest bearing deposits is typically seasonal but expressed confidence in maintaining a strong deposit mix [57] Question: Credit quality concerns - Management reassured that credit quality remains strong, with net charge-offs at 16 basis points and non-performing assets at 30 basis points [58][59] Question: Loan growth outlook - Management believes mid-single-digit loan growth is achievable, supported by ongoing market opportunities and a selective approach to lending [64] Question: Capital management and M&A interest - Management confirmed a focus on organic growth rather than M&A, while remaining open to opportunities that align with strategic goals [76]

Exhibit 99.2 Enterprise Financial Services Corp 2024 Fourth Quarter Earnings Webcast Forward-Looking Statements Some of the information in this report may contain "forward-looking statements" within the meaning of and intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may include projections based on management's current expectations and beliefs concerning future developments and their potential effects on the Company ...

Core Insights - Enterprise Financial Services (EFSC) reported $167 million in revenue for Q4 2024, marking a year-over-year increase of 0.5% and a surprise of +5.83% over the Zacks Consensus Estimate of $157.8 million [1] - The earnings per share (EPS) for the same period was $1.32, compared to $1.21 a year ago, resulting in an EPS surprise of +11.86% against the consensus estimate of $1.18 [1] Financial Performance Metrics - Efficiency Ratio stood at 59.6%, better than the three-analyst average estimate of 60.4% [4] - Net Interest Margin was reported at 4.1%, matching the average estimate based on three analysts [4] - Total nonperforming loans amounted to $42.69 million, exceeding the average estimate of $32.66 million from two analysts [4] - Average Balance of Total Interest Earning Assets was $14.32 billion, surpassing the two-analyst average estimate of $14.07 billion [4] - Net charge-offs to average loans were 0.3%, higher than the two-analyst average estimate of 0.2% [4] - Total Noninterest Income reached $20.63 million, exceeding the three-analyst average estimate of $17.72 million [4] - Net Interest Income was reported at $146.37 million, compared to the average estimate of $140.72 million from two analysts [4] - Deposit service charges were $4.73 million, slightly below the average estimate of $4.83 million from two analysts [4] - Tax credit income was $6.02 million, significantly higher than the average estimate of $3 million from two analysts [4] - Net interest income (FTE) was $148.64 million, compared to the average estimate of $143.56 million from two analysts [4] - Wealth management income was $2.72 million, slightly below the average estimate of $2.81 million from two analysts [4] Stock Performance - Shares of Enterprise Financial Services have returned +0.2% over the past month, while the Zacks S&P 500 composite has changed by +1.1% [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating potential for outperformance in the near term [3]

Group 1 - Enterprise Financial Services (EFSC) reported quarterly earnings of $1.32 per share, exceeding the Zacks Consensus Estimate of $1.18 per share, and showing an increase from $1.21 per share a year ago, resulting in an earnings surprise of 11.86% [1] - The company posted revenues of $167 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 5.83%, and compared to year-ago revenues of $166.18 million [2] - Over the last four quarters, EFSC has surpassed consensus EPS estimates three times and has also topped consensus revenue estimates three times [2] Group 2 - The stock has added about 0.1% since the beginning of the year, while the S&P 500 has gained 3.7%, indicating underperformance relative to the market [3] - The current consensus EPS estimate for the coming quarter is $1.05 on revenues of $152.72 million, and for the current fiscal year, it is $4.56 on revenues of $628.94 million [7] - The Zacks Industry Rank for Banks - Midwest is currently in the top 16% of over 250 Zacks industries, suggesting a favorable outlook for the industry [8]

EXHIBIT 99.1 ENTERPRISE FINANCIAL REPORTS FOURTH QUARTER AND FULL YEAR 2024 RESULTS Fourth Quarter Results 2024 Results St. Louis, Mo. January 27, 2025 – Jim Lally, President and Chief Executive Officer of Enterprise Financial Services Corp (Nasdaq: EFSC) (the "Company" or "EFSC"), commented, "I am pleased that a continued focus on clients, associates, and our diversified business model has resulted in strong fourth quarter and full year 2024 financial results. These results, along with share repurchases an ...

Analysts on Wall Street project that Enterprise Financial Services (EFSC) will announce quarterly earnings of $1.18 per share in its forthcoming report, representing a decline of 2.5% year over year. Revenues are projected to reach $157.8 million, declining 5.1% from the same quarter last year.The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.Ahead of a ...